Student Loans Overview

Student loans, unlike grants and work-study, are borrowed money

that must be repaid, with interest, just like car loans and home

mortgages. You make a legally binding agreement. You cannot have

these loans canceled because you didn’t like the education you received,

didn’t get a job in your field of study or because you’re having financial

difficulty. Loans are legal obligations, so before you take out a student

loan, think about the amount you’ll have to repay over the years.

Types of Student Loans

Federal Perkins Loan

The Federal Perkins Loan Program provides low-interest loans to help needy students finance the costs of postsecondary education. Students can receive Perkins loans at any one of approximately 1,800 participating postsecondary institutions. A Federal Perkins loan is a low interest (5%) loan.  Read More